GameStop’s latest quarterly earnings report released today showed both revenue and profit were at the rise year-over-year, but investors aren’t responding positively to the scoop. GameStop shares are currently trading down greater than 9.5 percent to $47.33 (-$5.12).
One potential reason behind Wall Street’s sourness could come right down to the retailer’s projected earnings for the all-important fourth quarter holiday period.
GameStop said today that it expects earnings per share to range from $1.97 to $2.14. In accordance with a Thomson Reuters poll, analysts were expecting this figure to be $2.15.
The retailer will hold an earnings call to speak about results and answer analyst and media questions beginning at 11 a.m. EDT. Check back later for more.